- December 12, 2023
- Posted by: cabana-admin
- Category: Market Insights
General overview: The pair keeps rising towards the positive direction in the market. The pair keeps growing towards the positive momentum ahead. The price is keeps rising towards the higher side. The major volatility can be seen towards the strong movement ahead. The pair emerges with the strong growing side in the market. The pair starts growing towards the bullish side in the market. The pair starts moving from the point 1.0778 at the market. The expected range top will be 1.1015 in the market. The market moves towards the buy side in the market. The pair breaks the support level of the market and start rising towards the buy side in the market.
Technical analysis: According to the technical point of view we can say that market sits towards the positive side in the market. The technical chart says that investors should go for buy in the market. The market shows its maximum power to the bulls and the pair reaches towards strong bullish side. On the 4 hourly charts we can say that market travels towards the 1.0803 level in the market and the indicators also indicating towards the positive side in the market as the RSI also reaches above 50 level and MACD above zero line both are indicating the Buy signals in the market. The pair fined its breakout at level 1.0815 and traded towards the level 1.0890. The major line SMA falling below the level EMA and makes their trading towards the positive side in the market. So, we suggest our traders to make their investment towards the buy side in the market. The support of the trade is 1.0660 followed 1.0565 and resistance is 1.0912 followed by 1.1015.
Trade idea: Our investors go for buy at level 1.0775 and target will be 1.0810, 1.0860 and stop loss will be 1.0715.